Leicester City's victory in the English Premier League has forced the UK's biggest bookie, William Hill, to pay out its biggest ever odds in betting history.
William Hill are processing their largest ever payout on the Premier League – £3m in total, of which £2.2m will be a loss. This is ten times the previous worst result.
The bookie took just 25 bets at 5,000/1 that Leicester City would win at the start of the season, 12 of which were placed online and 13 in branches. The largest bet at 5,000/1 was £20 from a retail customer in Manchester, while the smallest bet at 5,000/1 was 5p (returns £250) and was placed by a female customer in Edinburgh.
William Hill spokesman Ciaran O’Brien said:
These are quite simply the biggest odds we have ever paid out on and we have lost £2.2 million on the Premier League market.
That said we are happy to celebrate along with the 25 customers who took William Hills odds of 5,000/1 on Leicester at the start of the season as there is nothing like an upset to encourage loyal fans everywhere to back their team next season.
We have also benefited from the shock results week after week in what has been an enthralling Premier League season.
The biggest odds that have ever been paid out on before by William Hill is 2500/1 to Peter Edwards who backed his 18 month old grandchild to play for the Wales in 1999. His grandson, Harry Wilson, made his international debut in 2013.
Leicester are currently 25/1 to win the Premier League in 2016/17 and 100/1 to win the Champions League with William Hill.
UK bookmakers are expected to pay out a total of £15m on the back of Leicester's victory, of which £10m will be in losses.
Ladbrokes warned it would also be paying out £3m in the event of Leicester's win in a late-April trading statement.